A purely competitive firm finds that the market price for


A purely competitive firm finds that the market price for its product is $30. It has a fixed cost of $100 and a variable cost of $10 per unit for the first 50 units and then $25 per unit for all succcessive units. Does price exceed average variable cost for the first 50 units?

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Microeconomics: A purely competitive firm finds that the market price for
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